Major banks cut mortgage rates in ‘positive signs’ for market

Some of Britain’s largest lenders, including NatWest, Barclays, and HSBC UK, have been cutting mortgage rates this week, with deals as low as 3.71% for a five-year fixed rate. The average two-year fixed homeowner mortgage rate is 5.55%, while the average five-year fixed rate is 5.19%. Following the recent Bank of England base rate cut, experts advise consumers to seek advice to find the most appropriate mortgage deal based on true cost.

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